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continues to fall due to depressed performance.
ZSE is turning over an average of US$1,5 million from the 79 listed companies and brokers charge only 1 percent on the buy-and-sell side.
This indicates that the 21 stockbroking firms are sharing an estimated US$30 000 daily, which translates to US$150 000 a week and US$600 000 a month in revenue.

Sources in the market said more than 60 percent of the transactions are being handled by the top four broking firms.
This means than the other 17 firms would be sharing the remaining 40 percent, basing on the counters and the number of shares they handle.

“Business is very low,” said a broker on the ZSE. “I can say since late last year, given that our daily revenue has fallen – meaning less returns for brokers.”
The equities market has been depressed over the past month with a turnover of US$28 million from 475 million shares traded.

Viability challenges for stockbroking firms are coming at a time when the Securities Commission of Zimbabwe has introduced preliminary capital requirements.
Securities exchanges are required to raise US$1 million with securities custodians coming up with US$500 000.

Transfer secretaries and investment advisors are expected to weigh in with US$150 000 each and US$100 000 for dealing firms.
Individual investment advisors and securities dealers will have to part with US$10 000 respectively.

Every holder of securities (dealer) in now expected to pay a levy of 0,18 percent of the total consideration, net of any duty or tax, payable for any purchase, investor protection fund 0,05 percent, securities exchange levy 0,5 percent of monthly gross income, investment advisor 0,35 percent of gross income.

In addition, every issuer of a security that is initially offered for sale on registered securities exchange shall pay a levy of 0,1 percent of the gross amount raised through sale.
Meanwhile, the mainstream industrial index opened the week firmer at 165,25 percent after a 0,23 percent increase following gains in Econet, which was slightly up at US482c.

Other gains were recorded in FBCH adding US0,5c to close at US4,60c. Innscor was US0,49c to close at US64,50c.

Three counters lost ground yesterday with TA dropping US3c to end at US17c. Seed Co came off US2,99c to US130,01c and Aico Africa eased US0,10c to US18c.
In mining, the index ended 0,15 percent to close at 2 200,18 points as Bindura was bid higher at 7,20c while Falgold, Hwange and RioZim were unchanged at previous day’s trading levels.